In the wake of the Bitcoin halving, the hash rate of the network dropped dramatically.Due to an effective 50% decrease in profitability, around 30% of the machines mining BTC went offline from peak to the bottom of the trough, slowing transactions down and causing an increase in transaction fees.But as blockchain data firm Coin Metrics…
Bitcoin’s consolidation phase seen throughout the past several weeks muddied the confidence that many investors previously had regarding the strength of its uptrend.Although the crypto’s 150% surge from its March lows has been incredibly impressive, this momentum halted as soon as it reached the five-figure price region.It has now posted two rejections at $10,500 following…
Bitcoin price has been trading sideways for nearly 50 days at the height of its Black Thursday recovery rally. Volatility has dropped to some of the lowest levels ever in the emerging asset class as a result.However, an unusual event is about to take place that in the past has been associated with some of…
For the umpteenth time this month, Bitcoin failed to hold above the $10,000 resistance on June 10th. Prominent investors in the cryptocurrency space, however, remain bullish on BTC due to a confluence of macroeconomic factors.They say that in 2020, there’s a high likelihood Bitcoin revisits its all-time high price of $20,000.A rally to $20,000 would…
Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. BTC is currently recovering, but it is likely to face sellers near the 100 SMA (H4).Bitcoin traded as low as $9,084 and it is currently correcting higher.The price is likely to face sellers near the $9,600 level and…
Earlier this week, Bitcoin sustained a heavy drop.The cryptocurrency, just 24 hours after attempting a $10,000 break, plunged nearly $1,000 in the span of 12 hours. The move brought the cryptocurrency from around $10,030 to $9,050.Analysts are divided over what technical damage the drop caused.Some say that it is to be expected, calling the drop…
Bitcoin has failed multiple attempts at breaking past $10,500 over recent weeks, yet analysts say that the cryptocurrency is still on track to erupt into a new bull run in the coming months.Related Reading: Over a Dozen Top Crypto Assets Are Up Over 10% Today: Here’s WhyBitcoin Charts Signal a Start to Another Bull RunA…
Bitcoin could be at risk of seeing major downside in the near-term as it continues ranging sideways.Its recent price action has made it abundantly clear that the cryptocurrency’s buyers are fundamentally weak at the moment. Despite being able to support BTC within the $9,000 region, it still appears to be well-poised to see further downside.There…
Bitcoin has been caught within an unrelenting consolidation phase for the past several weeks.The immense turbulence seen within the equities market did put this bout of sideways trading in jeopardy, but the crypto has since stabilized back within the mid-$9,000 region.There are several factors, however, that seem to indicate that this long-held trading range will…
Bitcoin price has been consolidating in the mid to high $9,000 range for nearly a month and a half. Repeated attempts to break and hold above $10,000 have been rejected thus far.The most recent rejection, data shows, was largely fueled by miners who were seen moving BTC supply to exchanges just ahead of the most…